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Think it'll be any different when we're all going wind and solar? (right, that'll happen soon).

Robber barons have been around since the beginning of civilization. It won't be any different for whatever replaces fossil fuels. A handful will control the technology/rights to the areas where the solar or wind farms will be located/etc.
 

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This is why I love working for Chevron :p

They have money to throw away, and I happily take advantage.
 

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The U.S. gov't is taking in about $80,000/sec in tax revenue... about half of that is from individual income taxes.
 

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I read an article a few years back that said it cost Microsoft $33,000 for Bill to take an average dump at work. :p
My sister, a law intern, was thrown way off by my question of which client she bills while she takes a ****. My brother-in-law, also an attorney, wasn't surprised at all and quickly replied "whichever one has pissed me off the most lately." :evil:
 

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They are making about 7.4 cents in profit on each dollar. Big Pharma makes over 20 cents in profit on each dollar.

Apparently we all like the drug of oil a bit more than our other drugs.
 

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what is the return on investment?
that's the question.
if i have $50 invested, i don't make much money.
in i have $50,000,000,000 invested, i make a lot of money, but i have a lot of money invested.
% RETURN ON INVESTMENT?
sam
 

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Our Government makes $0.80 on every gallon of gas we buy in taxes. Maybe they can reduce it by cutting salaries of congressmen across the board. Even the CEO of Jetblue slashed his salary.
 

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Poor guys are barely making a buck :rolleyes:
Exxon sets U.S. mark for quarterly profit - Jul. 31, 2008

Edit: Oh, and Shell just reported record profits 30 minutes ago too. Yipee!
Shell: Record 2Q net profit of $11.6 billion: Financial News - Yahoo! Finance
Think it'll be any different when we're all going wind and solar? (right, that'll happen soon).

Robber barons have been around since the beginning of civilization. It won't be any different for whatever replaces fossil fuels. A handful will control the technology/rights to the areas where the solar or wind farms will be located/etc.

If youre wondering who owns Big Oil, chances are good the answer is you do.


If you have a mutual fund account, and 55 million U.S. households do, theres a good chance it invests in oil and natural gas stocks. If you have an IRA or personal retirement account, and 45 million U.S households do, theres a good chance it invests in energy stocks.

Its a common misperception that oil executives are the only benefactors of industry success. Instead, the bulk of Big Oil benefactors are hardworking men and women across America who boost their retirement portfolios through oil and natural gas stock. In fact, only 1.5 percent of company shares are owned by industry executives. The rest are owned by mutual fund investors, or those planning for retirement with pension and IRA funds.

As API Chief Economist John Felmy has noted: "When politicians seek to punish these companies and 'take their profits,' they are not targeting industry executives but the hard-earned savings of working people."

A study by economists Robert J. Shapiro and Nam D. Pham found:

Almost 43 percent of oil and natural gas company shares are owned by mutual funds and asset management companies that have mutual funds. Mutual funds manage accounts for 55 million U.S. households with a median income of $68,700. Twenty seven percent of shares are owned by other institutional investors like pension funds. In 2004, more than 2,600 pension funds run by federal, state and local governments held almost $64 billion in shares of U.S. oil and natural gas companies. These funds represent the major retirement security for the nations current and retired soldiers, teachers, and police and fire personnel at every level of government. Fourteen percent of shares are held in IRA and other personal retirement accounts. Forty five million U.S. households have IRA and other personal retirement accounts, with an average account value of just over $22,000.
For more information read the news release that accompanies the study, including quotes from Shapiro, undersecretary of commerce for economic affairs under President Bill Clinton, and Pham.


The US government makes more money on a gallon of gas (in taxes) than the oil companies earn on the same gallon. The oil companies have to find the oil, drill, transport, refine etc. All the government (state and federal) do is stick out there greedy hands to collect taxes on this. The words in bold are mine the facts above are from a study done by others.
 

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As noted by others above - so what? Haven't they earned it? They are making the same profit margin now as they did in the lean years. Prices go up, so profits go up. Simple as that. Plus, less than 10% profit margin is NOTHING.
 

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If youre wondering who owns Big Oil, chances are good the answer is you do.

...

As API Chief Economist John Felmy has noted: "When politicians seek to punish these companies and 'take their profits,' they are not targeting industry executives but the hard-earned savings of working people."

...
+1

Where's the outrage at the "obscene" salaries made by actors, musicians, and athletes?
 

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I'm just pissed off that the Democrats will not let the offshore drilling argument come to a vote. Both parties have been arguing for months now. Just let it come to a vote and let the chips fall where ever they do.

I can't believe congress is going on vacation next week and is doing nothing about this.
 

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I'm just pissed off that the Democrats will not let the offshore drilling argument come to a vote. Both parties have been arguing for months now. Just let it come to a vote and let the chips fall where ever they do.

I can't believe congress is going on vacation next week and is doing nothing about this.
The oil "crisis" and economic problems help the Democrats in the up coming election. They get to blame the Republicans (via Bush) for causing all the problems - when in fact, they refuse to allow anything to be done about it, other than blame the big bad "oil companies" and start talking about windfall profit taxes (take from the rich and give to the poor voters).

If the Dems had allowed a vote, progress might have started happening, and everything might improve - can't let that happen until after the election.


By the way, a guy on another list created an interesting web site. He got tired of people complaining about how the high gas prices were hurting them in the wallet. Go to the site, plug in your numbers, and you'll see some interesting results. Here's the site: http://www.megageek.com/gas/Page1.htm
 

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Dave is trying, and succeeding in starting crap on the forum...
 

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Tim - that website is not loading right now. I will try it later.

But you are totally right and I understand it is pollitical. You would think that at some point the people in the US would stand up and just demand congress do something than sit on their butts and play political games.
 

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The U.S. gov't is taking in about $80,000/sec in tax revenue... about half of that is from individual income taxes.
the gas companies are proving a product and make a profit, its called capitalism.
the government is providing us .............lets see, we pay other countries so they wont hate us,..................thats called robbery.
 
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